Summary:
Weekly Chart Trend: The overall trend on the weekly chart is bullish, indicating a prevailing upward movement in EUR/CAD.
Daily Pivot Point: The daily price has reached a significant pivot point, suggesting a potential area of support/resistance.
4-Hour Chart Bullish Signal: The 4-hour chart shows a robust bullish sign in the form of an engulfing...
Understand the Overall Trend: Begin by analyzing the higher timeframe charts (daily, weekly, monthly) to gain a clear perspective on the overall trend. This will help you align your trades with the predominant market direction.
Analyze Trend and Price Action for Intraday Timeframe: Zoom in on the intraday timeframe charts (1 hour, 4 hours, 15 minutes) to evaluate...
Major Resistance @ 0.89045 has been broken and its retesting it. Once retesting is successful it can go happily LONG. It a nice breakout to capture. 4 hr chart.
Based on the weekly chart USD/JPY have a strong resistance 113.743
4 hr chart is on downtrend and it has retested the major resistance. Perfect to Go short
